Southern Copper (NYSE:SCCO) Now Covered by Analysts at CICC Research

CICC Research started coverage on shares of Southern Copper (NYSE:SCCO) in a research report sent to investors on Wednesday morning, Benzinga reports. The firm issued an outperform rating on the basic materials company’s stock.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group upped their price target on Southern Copper from $61.00 to $82.00 and gave the company a sell rating in a report on Friday, March 22nd. StockNews.com downgraded Southern Copper from a buy rating to a hold rating in a report on Monday, February 5th. JPMorgan Chase & Co. lowered their price target on Southern Copper from $63.50 to $61.00 and set an underweight rating for the company in a report on Thursday, March 21st. HSBC downgraded Southern Copper from a hold rating to a reduce rating and set a $80.00 price target for the company. in a report on Monday. Finally, Jefferies Financial Group raised Southern Copper from a hold rating to a buy rating and upped their price target for the company from $91.00 to $130.00 in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $76.00.

Southern Copper Stock Down 0.4 %

SCCO stock opened at $109.25 on Wednesday. The company’s 50 day moving average price is $98.56 and its 200 day moving average price is $85.07. The company has a debt-to-equity ratio of 0.84, a quick ratio of 2.46 and a current ratio of 3.19. Southern Copper has a fifty-two week low of $64.66 and a fifty-two week high of $120.37. The firm has a market capitalization of $84.46 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 3.14 and a beta of 1.29.

Southern Copper (NYSE:SCCO) last released its earnings results on Friday, February 2nd. The basic materials company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.15). Southern Copper had a return on equity of 30.85% and a net margin of 24.51%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.37 billion. On average, equities research analysts anticipate that Southern Copper will post 3.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Southern Copper

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its position in Southern Copper by 7.0% in the third quarter. AQR Capital Management LLC now owns 80,682 shares of the basic materials company’s stock worth $6,075,000 after acquiring an additional 5,296 shares in the last quarter. Tyche Wealth Partners LLC purchased a new position in Southern Copper in the fourth quarter worth $1,668,000. Raymond James Financial Services Advisors Inc. raised its position in Southern Copper by 119.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 41,223 shares of the basic materials company’s stock worth $3,548,000 after acquiring an additional 22,471 shares in the last quarter. Viking Fund Management LLC purchased a new position in Southern Copper in the fourth quarter worth $31,000. Finally, Ameriprise Financial Inc. raised its position in Southern Copper by 17.5% in the third quarter. Ameriprise Financial Inc. now owns 687,501 shares of the basic materials company’s stock worth $51,854,000 after acquiring an additional 102,286 shares in the last quarter. 7.94% of the stock is owned by institutional investors and hedge funds.

Southern Copper Company Profile

Southern Copper Corporation engages in mining, exploring, smelting, and refining copper and other minerals in Peru, Mexico, Argentina, Ecuador, and Chile. The company is involved in the mining, milling, and flotation of copper ore to produce copper and molybdenum concentrates; smelting of copper concentrates to produce blister and anode copper; refining of anode copper to produce copper cathodes; production of molybdenum concentrate and sulfuric acid; production of refined silver, gold, and other materials; and mining and processing of zinc, copper, molybdenum, silver, gold, and lead.